Mutual funds have become one of the most lucrative investment avenues for masses in India.

Many of you might be interested in investing in mutual funds and must be searching for top mutual fund apps to invest your money online.

Or you might already be using a mutual funds app but now exploring a better one.

Before you zero down on any mutual funds app, you must be clear with an answer to the following questions.

  • Do you want advisory services to choose the right mutual fund or you can do the research by yourself?
  • Are you aware of the differences between a direct fund vs. a regular fund?
  • Do you want an option to invest in mutual funds from multiple fund houses or just 2-3 fund houses are enough for you?

These will help you map your needs to the services offered by a particular mutual fund mobile app and take an intelligent decision.

Practically, all mutual fund apps provide a similar set of services.

They provide you with an online interface to explore available mutual funds, buy fund units using net banking/UPI/some other digital way and then maintain the funds in your account (i.e. buy more units, sell units or just view the current status of your investment).

However, the main difference lies in the service quality and technical support that is provided, available fund choices, user interface and a bouquet of ancillary services that these mutual fund apps provide.

Therefore, you should consider all these factors along with an answer to the 3 questions posed above before you select the best app for mutual funds for your need.

Here are my top 5 picks

For ease of understanding, we can divide mutual fund apps into 3 categories-

CATEGORY 1: Free 3rd party direct mutual fund apps

These apps deal with only direct mutual funds and are free to use.

This category consists mainly of startups which are bringing in interactive platforms to enable do-it-yourself (DIY) investor make smart choices and manage his money by himself.

These apps rely heavily on the latest technologies (like artificial intelligence) and provide automated investment suggestions to investors.

That’s why these mutual fund apps are sometimes also referred to as Robo advisory platforms i.e. minimum to no human intervention when it comes to offering financial advice.

#1. Kuvera Mutual Fund App

Kuvera

  • Total App downloads: 500,000+
  • Total Reviews: 5000+
  • App Rating: 4.7/5.0
  • Google Playstore link: Click here

Kuvera is a Robo-advisory startup founded by ex-investment bankers.

Through Kuvera, investors can invest in direct mutual funds at zero commission.

Offering direct plans from 36 mutual fund houses, Kuvera is one of the best mutual fund app in India.

Moreover, if you have a regular mutual fund plan, you can switch to a direct plan using Kuvera.

It will help you save a lot of commissions that you otherwise pay in case of regular plans.

At the core, Kuvera is a goal-based investment platform.

It’s helpful to know your financial goals upfront before you start investing with Kuvera, though it’s not necessary.

It helps you visualize the target that you need to achieve and where you are on the progress curve.

I have been using Kuvera since April 2018 and I am extremely satisfied with their service.

Read my detailed review of Kuvera to know the benefits of the platform.

→Try Kuvera for FREE←

#2. Goalwise Mobile App

Goalwise

  • Total App downloads: 50,000+
  • Total Reviews: 700+
  • App Rating: 4.8/5.0
  • Google Playstore link: Click here

Started in the year 2016, Goalwise is on a mission to making goal-based investments in mutual funds easy, smart and hassle-free.

With a rating of 4.7 on the Play Store (the highest amongst all the apps listed in this article), Goalwise is more than just another do-it-yourself investment platform.

In fact, it’s one of the unique platforms in my list of Best Apps for Mutual Funds. Read my detailed review on Goalwise.

Goalwise offers 100% automated ‘get, set, go’ financial planning features at your disposal (without you paying the associated fee).

On top of it, all investments happen in Direct Mutual Funds.

So you get the benefits of scientific financial planning plus extra returns on top of regular funds.

The core logic of Goalwise is that investing in the right funds is just the starting point. An investor should make an exit from the nonperforming funds at the right time, without any emotional bias.

Goalwise makes this process 100% scientific and automated through its proprietary algorithms. And as you reach closer to your goals, the platform will automatically move your investments to a safer avenue of a debt fund.

While I am yet to try any of their goals, this platform is a perfect fit for a newbie investor who is not sure how to shortlist the best direct mutual fund.

Goalwise will help him automate the process based on his needs and risk profile.

In short, Goalwise is definitely worth a try.

→Try Goalwise for FREE←

#3. Groww App

Groww

  • Total App downloads: 5,000,000+
  • Total Reviews: 93,000+
  • App Rating: 4.3/5.0
  • Google Playstore link: Click here

Groww, a Bangalore based startup founded by ex-Flipkart employees, aims to make mutual fund investment simple and accessible to all.

It aims at providing the right portfolio advice in accordance with investment goals.

The interface is quite handy and interactive with few experts recommending mutual fund plans for the beginners.

You can also start STP(Systematic Transfer Plan), SWP(Systematic Withdrawal Plan), and NFO(New Fund Offer) using Groww platform.

Recently in order to provide more convenience to customers, Groww has added UPI as a payment option.

→Try GROWW App for FREE←

#4. Piggy App

piggy

  • Total App downloads: 100,000+
  • Total Reviews: 7,000+
  • App Rating: 4.4/5.0
  • Google Playstore link: Click here

Piggy, a  Y Combinator-funded startup aims to make mutual funds investment easy for the new generation.

It offers an AI-based platform where you can freely put forward your queries related to investments and you get complete assistance from their team.

In addition to buying direct mutual funds at zero cost, it also provides an additional facility of EPF tracker.

It enables you to link your EPF account, view your EPF balance and view projected retirement EPF balance.

#5. PaisaBazaar Mobile App

paisa

  • Total App downloads: 5,000,000+
  • Total Reviews: 55,700+
  • App Rating: 4.0/5.0
  • Google Playstore link: Click here

Paisa Bazaar is the brainchild of  IIM Alumnus, Naveen Kukreja and Yashish Dahiya.

Paisabazaar provides complete financial solutions to an individual ranging from personal loans, business loan, insurance to direct mutual funds.

This app is beneficial for those investors who want to avail of multiple financial services through a single app.

You can open a savings account online, check your credit score, apply for a personal loan and credit card, get an insurance policy and invest in mutual funds through Paisa Bazaar App.

But if investing in mutual funds is your sole objective, I think you can skip Paisa Bazaar.

Other direct mutual funds apps concentrate on only one business segment they are able to provide more specialized services to investors preventing every block an investor can face during investing.

Moreover, chances of cross-selling and upselling are way higher with Paisa Bazaar., though I haven’t witnessed the same.

#6. ET Money Mobile App

ET

  • Total App downloads: 5,000,000+
  • Total Reviews: 100,300+
  • App Rating: 4.5/5.0
  • Google Playstore link: Click here

ET Money is a part of Times Network (an official arm of the Times of India Group) dealing in other great digital brands like Gaana, Economic times and Magicbricks.

So you can imagine the type of expertise they hold due to a strong foundation in digital space.

ET Money provides personal finance solutions to the customers through their completely automated platform.

They help you find the best financial products, buy them and manage them at zero cost.

You can get quick loans, buy insurance policies, track your expenditures and invest in direct mutual funds.

Their unique feature of smart deposits helps you to invest your idle savings in liquid funds instead of a savings account as it generates higher returns.

ET Money has claimed to have clocked Rs.500 cr of mutual fund sale within 2 years of launch.

However, ETMoney is more like Paisa Bazaar where a user is offered multiple financial products and services.

#7. Clear funds App by MobiKwik

Clear

  • Total App downloads: 50,000,000+
  • Total Reviews: 1,300,000+
  • App Rating: 4.3/5.0
  • Google Playstore link: Click here

Clear funds were built and scaled by Kunal Bajaj, a rank holder chartered accountant and was later acquired by Mobikwik.

Clearfunds aimed at building a whole stack of personal finance solution for new-age customers by making mobile as the tool around which entire financial mechanism revolves.

You can pay your daily bills, get insurance policies on low premiums, recharge your mobile, get instant loans and invest in direct mutual funds.

The set of services is quite logical as Mobikwik serves as the digital wallet using which you can pay for all other financial services.

#8. PayTm Money App

Paytm

  • Total App downloads: 5,000,000+
  • Total Reviews: 54,000+
  • App Rating: 4.2/5.0
  • Google Playstore link: Click here

PayTm money is backed by Indias largest digital wallet company Paytm founded by Vijay Shekhar Sharma.

The creation of PayTm money announces the foray of PayTM into India’s booming wealth management business.

Paytm money has an automated system that aids you in selecting the right fund for you based on your investment goals.

You can select funds based on multiple criteria such as better than a savings account, invest in large companies, better than fixed deposits, invest to save tax, etc.

Thus they are quite successful in capturing the investor sentiments by making their platform highly user-friendly.

#9. Karvy Mobile App

KFinKart_Karvy

  • Total App downloads: 500,000+
  • Total Reviews: 23,000+
  • App Rating: 4.3/5.0
  • Google Playstore link: Click here

Karvy is one of the oldest companies in India providing financial services such as stockbroking, personal finance advisory, wealth management and distribution of financial products.

Karvy is officially designated registrar of the mutual fund house.

That means they maintain a record of investors’ transactions on behalf of select mutual fund houses.

Being an old player in the market, it might be popular among conventional investors.

But it is definitely losing ground amongst new tech-savvy investors as the app doesn’t allow new investors to invest directly.

Additionally, the app reviews are not good as many investors complain about issues related to login, technical failure while payments, cumbersome processing, etc.

#10. CAMS Mobile App

My

  • Total App downloads: 1,000,000+
  • Total Reviews: 58,000+
  • App Rating: 4.3/5.0
  • Google Playstore link: Click here

Cams is another old company in India providing all types of financial services including the purchase of mutual funds.

Cams is officially designated registrar of mutual funds and services 18 mutual funds.

But the app reviews for CAMS is not good and they need a system overhaul to understand customer demand better.

You may face issues relating to payments, customer support, and system breakdown.

CATEGORY 2 – Free mutual fund apps by AMCs

Mutual fund houses have their own apps through which you can invest in mutual funds of the specific fund house.

The 2nd category of apps is appropriate for those investors who are willing to invest only in securities of a single and specific mutual fund house.

If you want to invest across multiple mutual fund houses, you need to download the respective app of each AMC.

That makes it cumbersome.

Though most of the fund houses have their apps, we are covering just a handful of most famous mutual fund house apps.

#11. IPru Touch App by ICICI Prudential Mutual fund

IPRU

  • Total App downloads: 500,000+
  • Total Reviews: 16,000+
  • App Rating: 4.3/5.0
  • Google Playstore link: Click here

IPRU touch can be used by investors and distributors of ICICI Prudential mutual funds.

Investors can invest in any Prudential mutual fund of ICICI securities by using this app.

This app provides various features ranging from starting a SIP, planning investment goals, downloading e-statements to finding the current NAV of mutual funds.

#12. InvesTap Mobile App by SBI Mutual Fund

InvesTap_SBI

  • Total App downloads: 1,000,000+
  • Total Reviews: 34,000+
  • App Rating: 4.2/5.0
  • Google Playstore link: Click here

InvesTap by SBI Mutual fund provides investment solutions ideal to meet your dreams and helps in planning for your financial goals through a mix of tools and calculators.

If you want to buy direct mutual funds of SBI Mutual funds only, then you can use this app for a focused approach while investment.

You can access all your investments through their app, start sip, download e-statements, etc.


 #13. FinGO App by Birla Sunlife Mutual fund app

FinGO

  • Total App downloads: 500,000+
  • Total Reviews: 4,900+
  • App Rating: 3.7/5.0
  • Google Playstore link: Click here

Fingo app offers complete solutions for mutual funds by providing advisory to new investors and a direct purchase option to old investors.

Their mutual fund offerings are basically divided into four categories namely savings solution, income solution, wealth creation, and tax solution.

The interface is quite user-friendly providing the option to assess your portfolio and account statement easily.

You can purchase, redeem and switch between mutual fund of Birla Sunlife.


#14. EasyApp from Axis mutual fund

Easy

  • Total App downloads: 500,000+
  • Total Reviews: 5,000+
  • App Rating: 3.0/5.0
  • Google Playstore link: Click here

With the rating of 3.2 on Google Play Store, an easy app from Axis Mutual Fund enables new investors and existing investors of Axis Mutual fund to perform investment transactions anywhere anytime.

You can easily purchase, redeem, switch and start SIP using the app.

It also contains a feature of Insta redemption which allows hassle-free liquid fund redemptions for the investors taking only a few minutes.


#15. MF Online Mobile App by HDFC

MF

  • Total App downloads: 100,000+
  • Total Reviews: 3,500+
  • App Rating: 3.7/5.0
  • Google Playstore link: Click here

MFOnline by HDFC is a good option for those who want to invest in HDFC mutual funds only as account opening is only a click away.

You can get online support from HDFC mutual funds by a call, email or online chat.


CATEGORY 3-All in one trading, demat and mutual fund investment platforms

This category provides triple benefits to an investor by providing 3 sets of services i.e. trading, demat and mutual fund investments.

Therefore an investor who desires to trade in equity and also invest in a mutual fund can open such an account.

#16. ICICI Direct Mobile App

ICICI

  • Total App downloads: 1,000,000+
  • Total Reviews: 19,000+
  • App Rating: 4.1/5.0
  • Google Playstore link: Click here

ICICI Direct is a retail trading and investment services arm of ICICI securities.

It provides a great variety of services ranging from equity trading, futures, options to bonds and mutual funds.

It charges Rs.100 for a lumpsum investment in a mutual fund and Rs.30 or 1.5 percent, whichever is lower, for a SIP.

As ICICI Direct provides the entire gamut of services, it is ideal for investors who are experienced and want to invest in a variety of options at a single time.

Such an investor can keep a complete track of all his investments in a single place.

But one should check the complete pricing of various services here, so as to make an informed decision.

Just FYI, I was using ICICI Direct for the past 10 years but have now moved to Kuvera (for mutual funds) and 5Paisa (for investing in stocks).


#17. Zerodha Mobile App

Coin_Zerodha

  • Total App downloads: 500,000+
  • Total Reviews: 6,800+
  • App Rating: 4.3/5.0
  • Google Playstore link: Click here

Zerodha is India’s first discount brokerage firm, a project initiated by Nitin Kamath offering retail and institution broking, currencies and commodities trading, mutual funds, and bonds.

With a customer base of 8 lakh plus, Zerodha has emerged as the largest retail brokerage firm in India.

It was recently awarded by NSE as the ‘Best Retail Brokerage Firm in India for 2018’.

Zerodha offers mutual fund services through its app COIN which is absolutely free of cost.

Moreover, brokerage for equity trading is at a flat rate of Rs.20 per order, thus making it a lucrative option in the 3-in-1 account category.

Zerodha has emerged as the best option for intraday investors who want twin benefits of investing in equity and mutual funds at a reasonable cost.

But if you are a long term equity investor and do not indulge in day to day trading activity, then you should avail services of any category 1 mutual fund mobile app as their automated platform will give you a more focused approach towards MF investments.


#18. 5Paisa Mobile App

5

  • Total App downloads: 100,000+
  • Total Reviews: 22,000+
  • App Rating: 4.0/5.0
  • Google Playstore link: Click here

5Paisa is an online platform of India infoline (IIFL), India’s leading financial services company. It offers services related to online trading, online mutual funds, and online insurance.

5Paisa offers trading at a competitive price of Rs.10 flat for every transaction executed and mutual funds at free of cost.

It contains impressive features such as Robo advisory which allows a fully automated personal advisor to choose plans and set a portfolio based on investment goals.

Conclusion

In the end, your search for the best mutual funds apps should be driven by your individual needs.

If investing in mutual funds is your only need, go for a dedicated mutual fund investment platform offering direct funds for free (Category 1 or category 2), though I would suggest Kuvera or Goalwise.

But if trading in equity or buying cash stocks or one to one financial advisory is also required, you may opt from the 3rd category of apps that are subscription-based.

So which app are you using to invest in mutual funds? Do mention that in the comments.

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